Aston Martin has released their financial statements for fiscal year 2015.
For fiscal year 2015, the British sports car manufacturer posted a pre-tax loss of $172.03 million. The loss marks the fifth consecutive year that the company has posted a financial loss and failed to make a profit. The substantial loss sustained in 2015 was due to lower than expected car sales as well as increased investment in expansion.
Compared to the company’s pre-tax loss of 71.8 million pounds in 2014, their 2015 pre-tax loss is a substantial increase of just a hair of 56 million pounds.
According to Aston, they sold a total of 3,615 cars last year, a decrease from the previous year’s 3,661 sales figure. Despite the lower sales volume, Aston expects to see about a 20 percent rise in core earnings as it begins sales of the brand new DB11.
Looking forward, Aston expects this years sales volume to broadly match the sales figures of 2015.
Despite the growing losses of the past five years, Aston is hopeful that its new lineup, including the much anticipated DBX crossover will help the company get closer to turning a profit.